BSS, Dhaka :
As more than 2,000 private and public sectors representatives will be gathering at the World Investment Forum (WIF) 2014, Bangladesh delegation to the forum is set to attract more Foreign Direct Investment (FDI) by showcasing the country’s trade, business and investment climate, which is now much favourable than before.
Industries Minister Amir Hossain Amu is leading an eight-member delegation to the four-day biennial WIF, which is opening today (Monday) at 6 pm (10 pm Bangladesh time) in Geneva, Switzerland. The delegation includes Board of Investment (BoI) Executive Chairman Syed Abdus Samad, Bangladesh ambassador to Switzerland M Shameem Ahsan and high officials of the ministry of industries and foreign affairs.
Organised by the United Nations Conference on Trade and Development (UNCTAD), the WIF would bring together heads of state, government authorities, top brass of corporations and private sector stakeholders to launch new initiatives in the area of investment for development.
As the WIF is taking place in Geneva for the first time, attendance will also include a large number of leaders from the Swiss private sector.
The WIF is a high-level, biennial, multi-stakeholder gathering designed to facilitate dialogue and action on the world’s key emerging investment-related challenges.
Findings from UNCTAD’s World Investment Report (WIR) 2014 will be the prime focus of the WIF while the participants will be considering the policy frameworks and conditions for investment at national and global levels to address sustainable development challenges.
The WIR 2014 noted that Bangladesh experienced significant growth in FDI inflows, which rose from $1.3 billion in 2012 to about $1.6 billion in 2013. Manufacturing accounted for a major part of inflows and contributed significantly to employment creation. The country has also emerged as an important player in the manufacturing and export of ready-made garments (RMG) and has become a sourcing hotspot with its advantages of low cost and capacity.
The WIR, however, pointed out that the industry in Bangladesh has faced challenges, including in labour standards and skill development.
The Bangladesh delegation will showcase the progress in the related areas, which the country made in the recent time with effective initiatives of the present government under the leadership of Prime Minister Sheikh Hasina.
The delegation will also share the country’s view and activities as regard, to promote investment and drive development when the industries minister will attend a discussion on financing for the sustainable development goals at the concluding day of the WIF on Thursday.
The minister will also hold bilateral meetings with heads of different UN agencies on the sidelines of the WIF.
The WIF 2014 will have nearly 40 events, including private sector-led sessions, ministerial round-tables and the World Leaders Investment Summits.
The participating countries and organisations would present their respective plans on bilateral and multilateral cooperation for sustainable investment and development.
The Forum will be addressed by United Nations Secretary-General Ban Ki-moon.
A number of deliverables for investing in sustainable development will be announced at the event.
